Clik here to view.
The Cantillon Effect
Expansionary monetary policy constitutes a transfer of purchasing power away from those who hold old money to whoever gets new money. This is known as the Cantillon Effect, after 18th Century economist...
View ArticleClik here to view.
Does Easy Monetary Policy Enrich the Financial Sector?
Yesterday, I strongly insinuated that easy monetary policy enriches the financial sector at the expense of the wider society. I realise that I need to illustrate this more fully than just to say that...
View ArticleClik here to view.
Global Japan & the Problems with a Debt Jubilee
Bill Buckler critiques the notion of a debt jubilee: The modern “debt jubilee” is characterised as “quantitative easing for the public”. It has been boiled down to a procedure where the central bank...
View ArticleClik here to view.
Does the Bank of England Worry About the Cantillon Effect?
The empirical data is in. And it turns out that as I have been suggesting for a very long time — yes, shock horror — helicopter dropping cash onto the financial sector does disproportionately favour...
View Article
